Tata Sons wants to end partnership with AirAsia, keen to focus on Vistara, Jet Airways

Talks are in preliminary stage to end association with AirAsia. Besides, Tata Sons is keen to acquire a majority stake in India’s second-biggest airline Jet Airways

Tata Sons is weighing options to terminate its partnership with AirAsia Bhd in an attempt to fully focus on one airline business, Vistara, the joint venture with Singapore Airlines (SIA), reported the Economic Times citing several unidentified people aware of the development.

The financial daily mentioned that talks are in a preliminary stage to end association with AirAsia. Besides, the Mumbai-based conglomerate is keen to acquire a majority stake in India’s second-biggest airline Jet Airways.

The publication quoted one of the people as saying that the Tatas proposing to “exit AirAsia India and run the only full-service private airline in India, which is Vistara-plus-Jet". Tata Sons holds 51 per cent of AirAsia India while 49 per cent held by Malaysia-based AirAsia Bhd.

It may be noted that the Central Bureau of Investigation (CBI) had last year registered a case against low-cost airline Air Asia Group CEO Tony Fernandes and others over alleged violation of norms for getting international flying licenses.

With the CBI investigation against him, it is getting tough for “Tony to do business in India”, the daily quoted one of the persons cited above as saying.

The Tatas having a full-service carrier — Vistara merged with Jet — and an equivalent of SIA’s low-cost airline Scoot, which last year absorbed budget carrier Tigerair is one of the options being considered, as per the report.

Meanwhile, the board of Tata Sons will meet on Friday to discuss a plan to buy cash-strapped Jet Airways. Tata Sons chairman N Chandrasekaran is keen on the proposed deal and will reportedly make a business viability plan to the board.

Many analysts are of the view that if the deal materialises, the Tatas which could convert the country's largest conglomerate from an airline minor player into a major, full-service international airline.

Earlier this week, Jet Airways posted a consolidated net loss of Rs 1,261 crore for the September quarter and is immediately in need for capital infusion to sustain its operations.

Comments

Avengers Endgame Movie Review: Marvel's Stirring, Emotional Superhero Marathon

(There are spoilers in the review, so proceed at your own will. Or, you can come back to this review after watching the film.) Avengers Endgame, the last in the recent Marvel’s superhero series has been shrouded in secrecy what with the producers guarding the secret with all their resources. The leak of the film online by TamilRockers a few days before the film’s release in India only underscored the reality that this was not paranoia but necessary caution. Even at the media show on Thursday evening, everybody had to submit their phones to the security before stepping in to watch the film. There are spoilers ahead, so read frth On the pertinent question whether the film is worth the wait, Anthony Russo and Joe Russo give us a befitting conclusion to the 22 preceding stories. And it's good enough to make you want and wait for the second season of Superheroes. The film opens where Avengers: Infinity left off with Tony Stark in space with Thanos’ (Josh Brolin) d...

Counterpoint Research released its three-month report on smartphone shipments in India. According it Xiaomi is in the lead with 27% share, followed by Samsung and vivo with 23% and 10%, respectively. Oppo is taken down to fifth, while Micromax makes a surprising appearance at fourth with 9% shipments between July and September. Company Market share Q3 2018 Market share Q2 2018 Xiaomi 27% 28% Samsung 23% 29% viv o 10% 12% Micromax 9% N/A Oppo 8% 10% The report also revealed that total shipments increased by 24%, compared to the previous quarter, and 5% on a yearly basis. The increase is such a huge jump that India managed to surpass the United States in shipments, Karn Chauhan, research analyst at Counterpoint, revealed. The number of users in India exceeded 400 million, making the Asian country the second biggest smartphone market in the world, following China. The report stated that nearly a third of all devices shipped had a retail price between $150 and $250, while the...

Train 18, Indian Railways first engine-less train, to take passengers to India’s 1st world-class station!

Indian Railways first world-class semi-high speed train set will take passengers to India's first world-class railway station at Habibganj! While Train 18 is expected to roll out this month, the redevelopment work at Habibganj railway station is expected to be over by December end this year. From January 2019, Indian Railways ’ first engine-less train – Train 18 – will most likely replace India’s fastest Shatabdi Express on the Delhi-Bhopal route. What makes this development more special is the fact that the final destination of the Delhi-Bhopal Shatabdi Express is Habibganj – the first Indian Railways station that is being developed as a world-class transit hub. To put it simply, Indian Railways first world-class semi-high speed train set will take passengers to India’s first world-class railway station at Habibganj! While Train 18 is expected to roll out this month, the redevelopment work at Habibganj railway station is expected to be over by December end this year. Be...

Look in

Search This Blog